More filters:

The Effective Rate in Dollars fell from 2.52% to 2.47%, while the Basic Passive Rate increased from 5.80% to 5.85%.

The Central Bank of Costa Rica published on Wednesday afternoon, December 12th, that after the 0.05% decrease of last week, the Basic Passive Rate registered an increase and will remain at 5.85% until next Wednesday, December 19th. [GRAFICA caption="Click to interact with graphic"]

Because of fiscal uncertainty, in the first months of 2018, banks operating in the country reduced by 16% the amount invested in public debt securities in the local market.

Against the backdrop of doubts about the future of public finances in Costa Rica, it was reported that from January to September, 14 local public and private banks invested $3.190 million in government bonds.

Following the Constitutional Chamber's judgment on the tax reform, the exchange rate in Costa Rica temporarily stopped rising, but it is expected to restart upward trend in the coming months.

According to figures from the Central Bank of Costa Rica (BCCR), from mid-August to the first week of November, the Colon depreciated rapidly. However, after Fourth Chamber prepared the tax reform in Congress a few days ago, the dollar's price against the local currency stopped rising.

On February 14th and 15th, representatives of banks, international financial institutions and risk rating agencies will meet in Panama City to discuss issues related to the sector.

The event called "International Banking Congress for Regulators & Bankers," will be organized by the Superintendence of Banks of Panama (SBP) and seeks to address issues such as Basel III, prevention of money laundering, de-risking, new risks facing the industry, financial innovation-Fintech, cybersecurity, among others.

The Basic Passive Rate decreased from 5.75% to 5.70%, while the Effective Rate in Dollars also decreased, from 2.35% to 2.31%.

The Central Bank of Costa Rica published on Wednesday afternoon November 21st that after registering a rise of 0.10% the previous week, the Basic Passive Rate fell by 0.05%, and will remain at 5.70% until next November 28th.

In Costa Rica, the balance of credit card debt increased 14.6% in the last year, measured as of July 2018, rising from $1.880 million in July 2017 to $2.155 million in the same month of this year.

The Ministry of Economy, Industry and Commerce (MEIC), reported that according to the latest study of the credit card market, compiled by the Directorate of Economic and Market Research, Costa Ricans increased their debt balance by ₡166 billion ($275 million) in one year, representing a 14.6% growth.

Fitch Ratings reported that the country is under observation and for now maintains the rating at BB, awaiting what happens with the fiscal reform and the payment of government debt at the end of the year.

Fitch Ratings, a U.S. risk rating agency, reported on November 15th that Costa Rica would be close to a sovereign rating downgrade because of the country's public finances situation.

After the fast depreciation that the Costa Rican currency suffered weeks ago against the Dollar, in the last seven days the exchange rate has fallen from ¢629 to ¢615 per dollar.

Between August 16th and November 6th, the exchange rate in the wholesale market Monex registered an increase of 11%, rising from ¢567.97 to ¢628.81. However, since November 7th the price of the U.S. dollar has reported a downward trend, behavior that was induced by the interventions of the Central Bank of Costa Rica.

Because of the adjustments made by the Central Bank to interest rates in recent days, financial institutions in Costa Rica will be forced to raise interest rates on savings in local currency.

Arguing that forecasts suggest that inflation in 2019 could be above the upper limit of the target range, on November 1st the Central Bank of Costa Rica (BCCR) decided to raise the monetary policy rate from 5% to 5.25%.

With the purpose of "reducing pressures in the exchange market," the Central Bank of Costa Rica increased the interest rates of its term deposits as of November 7th.

With this increase in the interest rates of the Central Bank's deposit instruments, which is added to the one made last week, the entity seeks to foster savings in colones, particularly in instruments with longer terms.

The Basic Passive Rate decreased from 5.80% to 5.65%, while the Effective Rate in Dollars also decreased, from 2.46% to 2.34%.

The Central Bank of Costa Rica published on Wednesday afternoon November 7th that after not registering a change the previous week, the Basic Passive Rate fell 0.15%, and will be kept at 5.65% until next November 14th. [GRAFICA caption="Click to interact with graphic"]

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...